I find it slightly amusing to see so many commercials for products lately that promote saving money. If you are a company trying to sell something, of course it is a smart move to show that you can save money using your product when compared to competitors. It just makes me wonder whether these campaigns are effective. Here are some examples:
Suntrust is promoting saving by pointing out that the “keeping up with the joneses” mentality is no longer applicable. Of all of these commercials, I find this one the least contradictory. After all, they are a bank. They should promote saving.
AT&T; promotes saving by utilizing their “rollover” minutes. Rollover minutes are unused old minutes that are available to you if you do not use them during the month they are initially available to you. I’m sure you have been inundated with this commercial and many others like it.
Geico has also jumped on the saving bandwagon. Although their campaigns used to have cavemen and other characters that cost them a pretty penny to produce, they are now practicing what they preach. They have significantly reduced their advertising budgets with the newer commercials which are much more simple and cost far less to produce.
What company has had more benefit from the economic downturn than Wal-mart? It seems that the worse things get, the more profit they make. People are constantly looking for the best deal on any product. Enter Wal-Mart. The leading discount retailer has patrons flocking, many of which have not stepped foot in the store in years. Wal-Mart stands far above the next closest competitor, and will continue to do so until our economy rights itself.
It is obvious that saving is becoming the new “sheik”. Thriftiness and frugality are being pushed more than I have ever seen in my life, and most importantly, people are starting to save again! Just watch out for clever ad campaigns pushing save-spending. Promoting saving by switching or bundling can often be misleading. You may end up signing up for a promotional term to find out that you are trapped. These businesses are still trying to make a profit, they are just beginning to present it in different and more appealing looking ways. The best method of saving is not spending. If you must spend, spending extra time to find the best deal is the most intelligent way to spend.